Up-and-coming neighbourhoods are residential and business districts on the verge of upgrading and gentrification. As internationally networked experts for brokering top-class real estate to a demanding clientele, we track down the latest trends and insider tips in the world's major cities. It is a passion of Engel & Völkers to discover new developments in trendy or up-and-coming quarters and neighbourhoods in cosmopolitan cities like Berlin, Paris and Madrid. Our vision is to identify properties in up-and-coming neighbourhoods in good time when the trendy neighbourhoods are on the verge of a major breakthrough in terms of gentrification: Real estate prices are still comparatively cheap with a slowly increasing shortage on the real estate market. For the wise investor, the optimally timed purchase of up-and-coming neighbourhoods represents a lucrative investment in the future.
Berlin is a dazzling and highly mutable metropolis, and this also applies to trends in residential areas, districts and neighbourhoods. Wedding in the Mitte district around Müllerstrasse and Gesundbrunnen has just awoken from its slumber. There is much construction happening in the up-and-coming neighbourhoods, chic cafés and restaurants are emerging and the formerly very mixed demographic structure is becoming younger, more lifestyle-conscious and more demanding. Lively building activity is a clear indication: Something is happening in the former working-class district of Wedding. This phenomenon can be clearly observed, for example, in residential properties around Brunnenviertel. Gentrification is being driven forward, among other things, by the inclusion of Müllerstrasse, one of the main arteries of Wedding, in the federal-state support programme "Active city centres". Please also take a look at the property prices in Berlin's neighbourhoods.
Madrid, capital and secret queen of Spain's metropolises, has long-established, permanently unattractive districts, neighbourhoods and barrios that are rapidly positioning themselves as up-and-coming neighbourhoods. One example of this and a current insider tip among the gradually gentrifying barrios is Tetuán, for many years a residential quarter that has been rather ignored by demanding buyers and tenants. Recently, there has been a noticeable change in Tétuan, brisk construction activity in conjunction with 4-star hotels, new stylish cocktail bars, upscale restaurants and concept stores for experience-oriented shopping. Ailing apartment blocks were demolished and replaced with new buildings. Those who know Tetuán predict the coming boom especially for neighbourhoods of the district east of Madrid's main artery, the famous Calle de Bravo Murillo. With our well-connected experts and adepts of the local real estate and construction development scene in Madrid, we know the insider tips for investors in the Tetuán district.
Property prices in the individual arrondissements, districts and neighbourhoods in the Seine metropolis vary much more than in Berlin. While property prices are skyrocketing in the trendy neighbourhoods that have been popular for years, there are still exciting discoveries to be made in up-and-coming neighbourhoods in smaller Parisian districts such as Marais and Belleville. While the strongly Asian-influenced Belleville of the 19th and 20th arrondissement is located in the north and northeast of Paris, the equally diverse Marais is spread over the 3rd and 4th arrondissement. Both Parisian districts were long regarded as magnets for artists and culture professionals and now show clear signs of incipient gentrification. Belleville in particular has recently attracted the attention of investors through urban renewal measures.